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Across Chase’s small business offerings, the cards in the Ink business card lineup are some of the most popular. These cards have brought many businesses into Chase's credit card ecosystem, especially for those who prioritize earning points and miles. However, the newest Ink card — the Ink Business Premier® Credit Card — is often overlooked as an incredible cash-back card, particularly relative to the other Chase Ink business cards.
The Chase Ink Premier is an excellent option for a small business wanting to earn a lot of cash back on all their credit card spending. This is especially true for small businesses that regularly make large purchases, as you'll earn extra cash back on these purchases. However, it is important to note this card's differences from the rest of the Ink lineup, most significantly the inability to turn cash back into transferable points.
Here's everything you should know about the Chase Ink Premier.
- Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
- Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases.
- Travel Benefits: Unlimited 5% total cash back on travel purchased through Chase Travel℠, No Foreign Transaction Fees and Trip Cancellation/Trip Interruption Insurance.
- The only business credit card with 2.5% cash back on every purchase of $5,000 or more.
- Get the buying power you need to make large purchases, cover monthly expenses and help your business grow. While you must pay your Pay In Full balance each month, this card has built-in flexibility. The Flex for Business feature allows for qualifying purchases to be paid over time with interest.
- Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection.
- There's no additional cost for employee cards. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more.
- Member FDIC
- Rates & Fees
- 5% cash back on travel purchases through the Chase Travel℠ portal
- 2.5% cash back on purchases of $5,000 or more
- 2% cash back on all other purchases
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Chase Ink Premier Pros
- A $1,000 welcome bonus after meeting the minimum spending requirements.
- No foreign transaction fees.
- Highly competitive 2%–5% cash back on purchases.
- Simple rewards with no minimum redemption.
Chase Ink Premier Cons
- It is not possible to transfer rewards to Chase's other Ink/Sapphire products or to transfer partners.
- The $195 annual fee is high for a cash-back card.
- Earning rates are less beneficial for businesses that make smaller transactions.
Chase Ink Premier Welcome Bonus
The Ink Premier offers a welcome bonus of $1,000 cash back after you spend $10,000 on purchases in the first 3 months from account opening.
While this spending threshold may seem high, the cardholders who will get the most value from this card should have little trouble reaching that with business spending. For those looking to earn cash instead of points and miles, this is a very significant welcome bonus.
Including the bonus, you will earn at least $1,200 in cash back after spending an initial $10,000 on the card to reach the welcome bonus. That's a solid 12% cashback return on the initial spending requirement. These earnings only increase if any purchases were at least $5,000 or were made through the Chase Travel portal — since the earning rates on both are greater.
Best of all, when it comes time to redeem the rewards, you can utilize the earned cash-back as statement credits or deposit them into a bank account.
Related: Top Small-Business Credit Card Offers This Month
Chase Ink Premier Benefits
Despite the $195 annual fee on the card, there are many benefits that come with it. Some of the most significant include:
No preset spending limit
The Ink Premier is not a traditional credit card with a fixed spending limit. Rather than having a preset spending limit, your purchasing power evolves based on factors like your payment history and previous spending. This is similar to some American Express cards that do not have a defined spending cap.
This perk is great for businesses that need flexible spending power during busy times. However, it is worth noting that you must pay your balance in full each month (which is best practice to avoid paying interest), or you may incur steep penalties.
Auto Rental Collision Damage Waiver (CDW)
If you frequently rent cars during business trips, the included auto rental insurance may be a large benefit. The auto rental CDW covers damage caused by a collision or theft up to the cash value of most rental vehicles.
In this case, the coverage is primary coverage when renting for business purposes. This means you do not need to file a claim with any other insurer before claiming under the card benefit. However, it’s secondary for personal rentals. For coverage to be in effect, you must decline the rental company’s damage insurance when asked and subsequently pay for the entire rental on your card.
Purchase protection
Purchase protection is an increasingly rare card benefit that covers you against damage and theft when you use the card to purchase new items. Claims apply for new purchases within the past 120 days for up to $10,000 per claim and up to $50,000 per account.
Extended warranty
Another great purchase coverage on the card is the extended warranty benefit. When you purchase an item with your Ink Premier, your warranty is extended by an additional year on U.S. manufacturers' warranties of three years or less.
Cell phone protection
With cell phone protection, you can get up to $1,000 per claim against covered theft and damage of your cell phone. This is a rare feature for small business cards and is great, especially if your business must pay for multiple employee phone lines.
For the insurance to apply, you must pay the whole cell phone bill each month with your Ink Premier. This provides coverage for you and any employee phones listed on that bill. You can make up to three claims in a 12-month period, but there is a $100 deductible per claim.
Add employee cards for free
Adding employee cards does not increase your annual fee. Each employee can have their own card, allowing your team to make the purchases they need without the hassle. Additionally, you can set spending controls on employee cards to avoid misuse.
Automatically save on business purchases with Visa SavingsEdge
The Visa SavingsEdge program flies under the radar of many Visa business cardholders — when really it shouldn't! It is a very simple and easy-to-use program offering two savings types for those who own a Visa business card of any kind: Everyday Savings and Instant Savings.
Everyday Savings simply requires you to enroll to receive discounts from participating merchants such as Wyndham Hotel Group, AutoZone, and Panera Bread. Instant Savings on the other hand, doesn't require enrolment and will allow you to save on merchants such as Amazon Web Services (AWS), Dropbox, and Meta Business Partner. Most savings you'll find will range from 2%–5% — but if you're lucky, you'll occasionally find a deal that'll save you up to 10%.
Chase Ink Premier Earning Rates
The Ink Premier earns cash back at the following rates:
- 5% cash back on travel purchases through the Chase Travel℠ portal
- 2.5% cash back on purchases of $5,000 or more
- 2% cash back on all other purchases
Plus, earn 5% cash back on Lyft Rides through September 2027.
The cash-back earned with the Ink Premier is one of its best perks. Not only is it one of the best business cash-back cards, but the Ink Premier is one of the best-earning cash-back cards, period.
The ability to earn 2% cash back on all purchases is excellent — particularly for business cards — but unlocking 2.5% cash back is even better when making higher-ticket purchases. This is incredible for businesses with diverse credit card spending needs, as they do not need to worry about the right time to use their card.
However, if your business spends money under a few specific categories — such as online advertising or travel — the Ink Business Preferred® Credit Card might be a better choice.
Related: Best Credit Cards for Large Purchases ($5,000 or More)
Redeeming Rewards With the Chase Ink Premier
The Ink Premier is a cash-back card at heart and does a great job at just that. You can redeem your cash back as a statement credit toward your balance or deposit it into a bank account. It is important to know that there are no minimums to redeem your rewards.
Other options you have include redeeming rewards for gift cards or through the Chase Travel portal. However, the reward’s value is consistent, with no way to earn outsized value — such as transferring to partners for premium cabin travel. Since the redemption rate is the same whether you redeem points for cash back or through the travel portal, you're better off charging your card for travel purchases to get a higher earning rate, then redeem points for a statement credit to offset the purchase.
The flip side is that simplicity allows you to get great value from the card without tracking or understanding the complexities of transfer partners. The negative is that you can't get top value from your rewards by using sweet spots after transferring your earnings to an airline partner. There is no deviation of value from their face value in cash with the Ink Premier.
Application Restrictions
Of course, you do need a business to open this Chase business credit card. While that may sound daunting at first, it is actually quite simple to qualify as a business and be able to get business cards. Learn more about qualifying for a business card by reselling on eBay, driving Uber, or just a side hustle with freelance work. These are just a few examples on top of what is normally considered a business. Additionally, even if you hold other Ink Business cards, you can still be eligible for this card as there are no current family application restrictions.
Chase’s standard application rules apply for the Ink Premier. This includes Chase’s unwritten 5/24 rule: You will not be approved if you've opened five or more personal cards from any bank in the last 24 months. However, other business credit cards — such as other Chase’s Ink cards — do not count against this number if they aren't showing on your personal credit report. You still must be under 5/24 to get approved.
Another relevant application restriction is that Chase will not approve someone for more than one business card in a 30-day period. So, if you recently signed up for a different Ink product, it may be worth waiting a few more weeks before applying. For more details, check out our post covering application restrictions for major credit card providers.
Alternatives to the Chase Ink Premier
If the Ink Premier is not the right for you and your business, here are some other incredible cards that might be a better fit:
- If you're looking for transferable rewards points, consider the Ink Business Preferred® Credit Card. It earns 3x Ultimate Rewards points on travel purchases and expenses in other business categories (up to $150,000 annually), and the annual fee is just $95. The most significant benefit is that the points can be transferred to airline and hotel partners for more value. More details are in our Ink Preferred review.
- If you want a card with no annual fee, consider the Ink Business Unlimited® Credit Card. This card offers an unlimited 1.5% cash back on all purchases, and it has a $0 annual fee. The points can be redeemed as cash-back or, alternatively, are transferable to partners when paired with an additional eligible Ultimate Rewards-earning card. You can learn more in our full review of the Ink Unlimited.
- If your business isn't a big spender, consider The Blue Business® Plus Credit Card from American Express. It earns 2x points on the first $50,000 of purchases yearly, then 1x. Additionally, this card has no annual fee (Rates & Fees), which makes sense for a lower-spending business. You can learn more in our Blue Business Plus review.
- 3X points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year
- 1X point per $1 on all other purchases
- Earn unlimited 1.5% cash back on every purchase made for your business
(Terms Apply)
- Earn 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms and limitations apply.
Related: Best Chase Business Credit Card Offers
Bottom Line
Overall, the Ink Premier is a fantastic card that offers an almost unheard-of 2.5% back on purchases over $5,000. Earning a base of at least 2% cash back on all purchases is incredible. Although we wish that the rewards were transferable, similar to other Chase Ink products, the potential for this cash-back card is simply outstanding.
- Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
- Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases.
- Travel Benefits: Unlimited 5% total cash back on travel purchased through Chase Travel℠, No Foreign Transaction Fees and Trip Cancellation/Trip Interruption Insurance.
- The only business credit card with 2.5% cash back on every purchase of $5,000 or more.
- Get the buying power you need to make large purchases, cover monthly expenses and help your business grow. While you must pay your Pay In Full balance each month, this card has built-in flexibility. The Flex for Business feature allows for qualifying purchases to be paid over time with interest.
- Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection.
- There's no additional cost for employee cards. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more.
- Member FDIC
- Rates & Fees
- 5% cash back on travel purchases through the Chase Travel℠ portal
- 2.5% cash back on purchases of $5,000 or more
- 2% cash back on all other purchases
For rates and fees of the cards mentioned in this post, please visit the following links: Ink Business Premier® Credit Card (Rates & Fees), The Blue Business® Plus Credit Card from American Express (Rates & Fees), Ink Business Preferred® Credit Card (Rates & Fees), and Ink Business Unlimited® Credit Card (Rates & Fees)
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